The first step to resolve over-indebtedness is to apply for voluntary means of debt restructuring. If these are not enough to resolve your debt situation, you can apply to the district court for the adjustment of debts of a private individual.
You can obtain debt adjustment if you are unable to pay your debts and no financial improvement is expected in your financial position. If there is an impediment to debt adjustment, weighty reasons are required to grant it.
If you are able to cover your debts by selling assets other than those constituting basic security, by reducing your expenses or by increasing your income, you cannot be granted debt adjustment. Nor is debt adjustment granted if the debts can be paid within a reasonable time or where inability to pay is temporary.
You can get help and advice on debt adjustment from financial and debt advisers.